- Prachi Singh |
Ariel Chaus, current CEO of Bernard Chaus Inc. (BCI) is repurchasing 100 percent of BCI's shares from Camuto Group to reclaim full ownership of the brand. In addition, the company said, Bernard Chaus is partnering with Authentic Brands Group (ABG) on a shared ownership interest in the intellectual property of the BCI brands. Additionally, the brand is also entering into a long-term license agreement with ABG for Vince Camuto branded apparel.
Chaus, who will continue in his role as Chief Executive Officer of Bernard Chaus said in a statement: “The members of the BCI team and I are very excited about the opportunities ahead as we are now a strong, well capitalized, independent and standalone apparel company. In the current and ever-evolving retail environment, the opportunity to once again manage and grow a fully autonomous BCI platform is exciting. On Vince Camuto, I look forward to collaborating with ABG to realize the extraordinary potential of the brand.”
Together, the company said, ABG and BCI will expand the global footprint of the 1.State, CeCe and Chaus brands and launch an elevated women’s sportswear platform that will service department stores around the world.
“My repurchase of BCI is fitting and a special tribute to the memory of my late mom Josephine and my late dad Bernard. Founded by my parents in 1976 and with a profound history, BCI today stands at the threshold of a new era of opportunity in which the need to transform and adapt to both retail partners’ and consumers’ desires and demands is enduring and compelling,” added Chaus.
Picture credit:Chaus website